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Extract of Minutes of Meeting <br />of the City Council of the City <br />of Lino Lakes, Anoka County, Minnesota <br />Pursuant to due call and notice thereof a regular meeting of the City Council of the City <br />of Lino Lakes, Anoka County, Minnesota, was held at the City Hall in the City on Monday, <br />April 12, 2010, commencing at 6:30 P.M. <br />The following members of the Council were present: <br />and the following were absent: <br />* * * <br />The following written resolution was presented by Councilmember , who <br />moved its adoption, the reading of which had been dispensed with by unanimous consent: <br />RESOLUTION NO. 10 -31 <br />RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF <br />APPROXIMATELY $1,015,000 GENERAL OBLIGATION IIv[PROVEMENT <br />AND UTILITY REVENUE REFUNDING BONDS, SERIES 2010A <br />BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka County, <br />Minnesota (the "City ") as follows: <br />1. It is hereby determined that: <br />(a) the City is authorized by Minnesota Statutes, Chapter 475 (the <br />"Act ") and section 475.67, subdivision 3, of the Act to issue and sell its general <br />obligation bonds to refund obligations and the interest thereon before the due date of the <br />obligations, if consistent with covenants made with the holders thereof, when determined <br />by the City Council to be necessary or desirable for the reduction of debt service cost to <br />the City or for the extension or adjustment of maturities in relation to the resources <br />available for their payment; <br />• <br />• <br />• <br />